Contracts
In Iowa, an offer in a real estate transaction must include all of the following EXCEPT:
AIdentification of the property
BPrice offered
CTerms and conditions
DA down payment of at least 10%✓ Correct
Explanation
An offer must identify the property, state the price, and specify terms and conditions. There is no legal requirement for a minimum down payment in an offer; that is determined by the lender or seller's requirements.
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